Every organization should fulfill certain legal requirements for providing effective services to its customers. Those companies which violate these legal standards can be sued for penalty. Compliance Officer is the official who is in charge of ensuring whether the company is following the specified legal standards. It is their duty to monitor the current development happening in the concerned industry and contemplate on how they can affect the regulatory requirements. They will also take up measures to cope up with the changes occurred in the regulatory requirements.

Qualifying Exam

Educational qualification required for a Compliance Officer depends on the organisation where they are going to apply for the job. Even so, a Bachelor degree is a must for those candidates who want to be a Compliance Officer. They can obtain their Bachelor’s degree in Business Administration, Corporate Law, Economics, Finance or Operations according to their area of interest. Some of the Compliance Officer may have Master’s degree in Business Administration and they may be specialized in a particular area.

Who are eligible to apply?

Candidates who hold Bachelor’s degree or Master’s degree in the specified area are eligible for the job of Compliance Officer. As there will be constant changes and amendments in the rules and regulations, freshers who get into the job should have undergone training on the recent developments in the company law. Due to this reason, most of the reputed companies employ experienced candidates rather than freshers. Each company will specify a particular period of experience for the candidates who are applying for the job of Compliance Officer. In that case candidates should perform well to prove that they possess enough skills in the specified area.

Key elements in the process

• Complete undergraduate or postgraduate degree in the relevant field
• Undergo training (optional)
• Acquire the required work experience
• Get into the position of Compliance Officer

Skills required for a Compliance Officer

Compliance Officer should have the ability to think strategically about the legal bottlenecks encountered by a company. Analytical skills are essential for them to understand the changes happening in the regulatory requirements. Research skills and Communication skills are inevitable for them to pursue a long term career.